Tata Power Co. (TPC) has acquired a Haldia-based 90 MW power plant from Tata Steel's subsidiary - Hooghly Met Coke & Power Co. - for an undisclosed amount.

The power plant, which is scheduled to be commissioned by end-December 2007, has an investment outlay of Rs.410 crore. Hooghly Met Coke & Power is a JV between Tata Steel and the West Bengal Industrial Development Corporation in which Tata Co holds 98 per cent in the JV.

The Haldia project will utilise coke oven gases to generate power and a part of the power generated from the plant will be sold to the West Bengal State Electricity Distribution Co. TPC will set up an additional 30 MW plant near the upcoming units by mid-2008, with an investment of Rs.130 crore.

Hooghly Met Coke & Power is setting up a coke oven at Haldia with an annual production capacity of 1.6 million tpa. The company had planned to use the excess heat produced in the process to produce electricity.